NATIONAL RECOVERY AND RESILIENCE PLAN - OPPORTUNITIES AND CHALLENGES
Autor (i): Daniela Antonescu Ioana Cristina Florescu
Cuvinte cheie: National Recovery and Resilience Plan, opportunities, challenges
Abstract:
The health crisis caused by COVID-19, together with previous crises, has shown that sustainable and
resilient economies alongside strong financial and social protection systems have helped Member States to react
more effectively and efficiently to shocks and recover faster. At the same time, resilience can lead to negative
effects of shock propagation between Member States, affecting the process of convergence and cohesion in the
European Union (EU). Falling expenditure on education, culture, healthcare can also affect the rapid recovery
of economies. At the same time, investment and reforms can help build resilience and lead, in the medium and
long term, to bringing back inequalities of all kinds.
In the context of the health crisis, an innovative instrument – the Recovery and Resilience Mechanism –
has been proposed and promoted at EU level to support recovery and resilience in regions and Member States,
with the stated aim of providing financial support in order to accelerate sustainable reforms and related public
investment. Although new in nature, this mechanism builds on the experience gained by Member States from
using other instruments and programs launched and funded by the EU but this plan also comes with several
opportunities and challenges that will be discussed in this article.
The health crisis caused by COVID-19, together with previous crises, has shown that sustainable and
resilient economies alongside strong financial and social protection systems have helped Member States to react
more effectively and efficiently to shocks and recover faster. At the same time, resilience can lead to negative
effects of shock propagation between Member States, affecting the process of convergence and cohesion in the
European Union (EU). Falling expenditure on education, culture, healthcare can also affect the rapid recovery
of economies. At the same time, investment and reforms can help build resilience and lead, in the medium and
long term, to bringing back inequalities of all kinds.
In the context of the health crisis, an innovative instrument – the Recovery and Resilience Mechanism –
has been proposed and promoted at EU level to support recovery and resilience in regions and Member States,
with the stated aim of providing financial support in order to accelerate sustainable reforms and related public
investment. Although new in nature, this mechanism builds on the experience gained by Member States from
using other instruments and programs launched and funded by the EU but this plan also comes with several
opportunities and challenges that will be discussed in this article.
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